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Yaani Eurobond billions are finished?
Rank: Elder Joined: 4/22/2009 Posts: 2,863
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limanika wrote:I hope mullah is right coz I want this thing behind us. But some questions still remain. 1) If the only eurobond money in cbk account is 140b, what happened to 56b (196-140)? 2) if domestic borrowing in 2014/15 was only 110b compared to 201 the previousFY, why didn't interest rates plummet? 3) can we get breakdown how the money was spent? You have raised some very pertinent issues. Now waiting for Wazua spin doctors aka team#36 to respond. IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
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Rank: Veteran Joined: 8/25/2012 Posts: 1,826
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mwenza wrote:limanika wrote:I hope mullah is right coz I want this thing behind us. But some questions still remain. 1) If the only eurobond money in cbk account is 140b, what happened to 56b (196-140)? 2) if domestic borrowing in 2014/15 was only 110b compared to 201 the previousFY, why didn't interest rates plummet? 3) can we get breakdown how the money was spent? You have raised some very pertinent issues. Now waiting for Wazua spin doctors aka team#36 to respond. Its healthy for a debate to have individuals on the opposite side, imagine if this thread was just you @lma1 and @limanika just saying money was stolen, rot is a thief e.t.c it would be boring.
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Rank: Veteran Joined: 9/21/2011 Posts: 2,032
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What a confession. So, some guys just argue for the sake.
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Rank: New-farer Joined: 5/22/2014 Posts: 78
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alma1 wrote:limanika wrote:I hope mullah is right coz I want this thing behind us. But some questions still remain. 1) If the only eurobond money in cbk account is 140b, what happened to 56b (196-140)? 2) if domestic borrowing in 2014/15 was only 110b compared to 201 the previousFY, why didn't interest rates plummet? 3) can we get breakdown how the money was spent? Always never believe grand mullah. It's good for your health. I too don't want to believe this but as I have said earlier, the more the gov't talks, the more questions arise. So now I'll be reading what the lawyer for arrested politicians says vs what the self styled anti-corruption fellow says. Then I'll decide on my own. In that case let me offer an unsolicited reference, one @Kabetes on Twitter.. IMO, the Gov't relied on complexity of Financial/Economic Reports to pull this one off. Now that has become too complex even for them to answer valid questions. As for anyone who's on the Administration's payroll, I always take what they say with a pinch of salt. These include:- 1. Grand Mullah 2. Mutahi Ngunyi 3. ....
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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mugo2of3 wrote:alma1 wrote:limanika wrote:I hope mullah is right coz I want this thing behind us. But some questions still remain. 1) If the only eurobond money in cbk account is 140b, what happened to 56b (196-140)? 2) if domestic borrowing in 2014/15 was only 110b compared to 201 the previousFY, why didn't interest rates plummet? 3) can we get breakdown how the money was spent? Always never believe grand mullah. It's good for your health. I too don't want to believe this but as I have said earlier, the more the gov't talks, the more questions arise. So now I'll be reading what the lawyer for arrested politicians says vs what the self styled anti-corruption fellow says. Then I'll decide on my own. In that case let me offer an unsolicited reference, one @Kabetes on Twitter.. IMO, the Gov't relied on complexity of Financial/Economic Reports to pull this one off. Now that has become too complex even for them to answer valid questions. As for anyone who's on the Administration's payroll, I always take what they say with a pinch of salt. These include:- 1. Grand Mullah 2. Mutahi Ngunyi 3. .... Desperation by govt running to GrandMullah for help. If Rotich cannot correctly account for funds in such an elementary fashion as the lawyer turned accountant is trying to tell us, then we should really be worried. He also has no clue why he gave Minsitries Sh140B and has now asked them to tell Kenyans. Then we should be very worried, it seems we have a cook in Treasury cooking accounts "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Veteran Joined: 9/21/2011 Posts: 2,032
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Finally someone will try make it a case of typos. But the battle is already lost IMHO.
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Rank: Elder Joined: 4/22/2009 Posts: 2,863
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mwenza wrote:limanika wrote:I hope mullah is right coz I want this thing behind us. But some questions still remain. 1) If the only eurobond money in cbk account is 140b, what happened to 56b (196-140)? 2) if domestic borrowing in 2014/15 was only 110b compared to 201 the previousFY, why didn't interest rates plummet? 3) can we get breakdown how the money was spent? You have raised some very pertinent issues. Now waiting for Wazua spin doctors aka team#36 to respond. 3hrs later ..... Still waiting. IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Iganamagana wrote:murchr wrote:Swenani wrote:murchr wrote:masukuma wrote:wewe wacha it was KES250 billion? KES in bold thats like 2.5 billion USD Wazuans are talking about $$ thats why I told them to think about it. Anyway The amount that was raised was US$ 2BN from which commissions and legal fees were deducted to arrive at US$ 1,999,052,872.97 which amounts was acknowledged in the Central Bank of Kenya Account held with JP Morgan Chase Bank, New York on 27.06.2014. The Bank Statement from JP Morgan Chase Bank in New York confirms these facts. The Bank Statement and a confirmation in writing have been provided to Public Accounts Committee of the National Assembly and the Senate’s Finance Committee. GOK went back for an additional US$ 750 million tap sale and the bond traded at 5.9-5% net proceeds were $815,684,271 sold at a premium of US$ 65,684,271.00 Tap Sales were credited into Central Bank of Kenya account held with Citibank, New York on 17.12.2014. Hio point5 or 500, 000, 000.00 is what was earned from trading the bond  Now list the infrastructure projects which were financed by the EURO money 1. 2. 3. 4. 5. Refer to Rotich's statement on treasury Website and the standard paper of June 9 2014. Standard 9 Jun 2014 08:55 wrote:A successful sovereign issuance will show the level of enthusiasm foreign investors have for Kenya. Therefore, other foreign investments will trail any successful sovereign bond issuance in the international capital markets. For this reason, it is expected that we will attract more foreign capital flow after the issuance of the Eurobond. We need to work hard to grow the economy and continue to rely on our own internally generated revenues. Getting this money does not mean our current economic challenges will go away. Remember the Sh132 billion (if Kenya issues $1.5 billion), we will raise will all not be new money as almost half of this will be used to pay off existing loans. Whether this will bring some relief to the economy or not will also very much depend on how we use the proceeds of the bond. The bond proceeds is already budgeted for in this coming financial year but what exactly will it finance? Well, I read the preliminary prospectus and it is noted in there that the remainder, after the $600m syndicated loans and interest are paid off, will be used for ‘general budgetary purposes, including the funding of infrastructure. This means the money from that bond will go into the national pot to cover part of the Sh400 billion plus deficit. The deficit comes from new spending plans and old spending plans. So although it is said that we are borrowing to fund new infrastructure, in actual fact we are borrowing to meet the revenue gap, which is made up of many things. Na hii kelele yote ni ya nini? They should have made the noise then (June 2014) not now! Kenyans dont read papers even the media forgot they wrote this "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 4/22/2009 Posts: 2,863
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mwenza wrote:mwenza wrote:limanika wrote:I hope mullah is right coz I want this thing behind us. But some questions still remain. 1) If the only eurobond money in cbk account is 140b, what happened to 56b (196-140)? 2) if domestic borrowing in 2014/15 was only 110b compared to 201 the previousFY, why didn't interest rates plummet? 3) can we get breakdown how the money was spent? You have raised some very pertinent issues. Now waiting for Wazua spin doctors aka team#36 to respond. 3hrs later ..... Still waiting. Now going to 8 hrs... IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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mwenza wrote:mwenza wrote:mwenza wrote:limanika wrote:I hope mullah is right coz I want this thing behind us. But some questions still remain. 1) If the only eurobond money in cbk account is 140b, what happened to 56b (196-140)? 2) if domestic borrowing in 2014/15 was only 110b compared to 201 the previousFY, why didn't interest rates plummet? 3) can we get breakdown how the money was spent? You have raised some very pertinent issues. Now waiting for Wazua spin doctors aka team#36 to respond. 3hrs later ..... Still waiting. Now going to 8 hrs... na bado next statement shall be raila Thieves are not good people. Tumeelewana?
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